Abolition of ACT gives “its” a boost

Deutsche Bank says that the abolition of Advance Corporation Tax and the on going &#39its&#39 campaign have provided an opportunity for investors.

It forecasts benefits from deregulation of European stock markets and greater harmonisation of tax in the EU.

On-line internet dealing will revolutionise the sector for private investors and retail investors will own 55 per cent of the sector by 2005 compared with around a third now.

Analyst Martin Fothergill says: “We criticised trusts for share price under performance and apathy among directors and fund managers. Now we have discounts narrowing, thanks to the combination of share buy backs and the new marketing impetus led by &#39its&#39.”

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IFAs are branding the Chancellor&#39s increases in stamp duty on property a damp squib which will do nothing to slow the runaway housing market.The Chancellor raised stamp duty by 0.5 per cent to 4 per cent on property sales above £500,000 and 3 per cent on sales above £250,000.Below the £250,000 threshold, the figure remains […]

The Serious Fraud Office says that the London banking system is a magnet for money launderers, and banks are not doing enough to stop them.The SFO has 85 cases under investigation or prosecution, the largest number in its 12 years of existence.It says that most banks do not want to report fraud as it shows […]

Changes to the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) scheme were announced to improve the way they work, make the schemes more attractive to investors and benefit small higher risk companies seeking funding.The changes will, primarily, reduce from 5 years to 3 years (for shares issued on or after 6 April 2000) […]

■ From 1 April 2000 a new starting rate of corporation tax at 10% has been introduced. This lower rate will apply to small companies whose profits do not exceed £10,000. Companies with profits between £10,000 and £50,000 will qualify for marginal relief. The profits falling within these limits will effectively be taxed at 22.5%. […]

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.

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